Skandinaviska Enskilda Banken AB publ Sells 9,200 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Skandinaviska Enskilda Banken AB publ lessened its position in shares of Legend Biotech Co. (NASDAQ:LEGN) by 74.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,100 shares of the company’s stock after selling 9,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Legend Biotech were worth $102,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in Legend Biotech during the 4th quarter worth approximately $77,000. Quantbot Technologies LP purchased a new stake in Legend Biotech during the 3rd quarter worth approximately $148,000. Blue Trust Inc. grew its position in Legend Biotech by 1,513.3% during the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock worth $190,000 after purchasing an additional 5,478 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Legend Biotech during the 3rd quarter worth approximately $229,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Legend Biotech by 12.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company’s stock worth $238,000 after purchasing an additional 835 shares during the last quarter. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Performance

Shares of NASDAQ LEGN opened at $37.88 on Wednesday. The company’s fifty day moving average price is $35.83 and its 200 day moving average price is $40.47. Legend Biotech Co. has a 1 year low of $30.17 and a 1 year high of $64.28. The company has a market capitalization of $6.92 billion, a PE ratio of -39.87 and a beta of 0.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.46. The company had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $179.00 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The firm’s revenue for the quarter was up 134.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.40) earnings per share. On average, research analysts predict that Legend Biotech Co. will post -1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. HC Wainwright boosted their target price on shares of Legend Biotech from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Morgan Stanley dropped their price objective on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $83.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. Guggenheim reaffirmed a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $78.00 price objective on shares of Legend Biotech in a report on Monday, December 30th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Legend Biotech Profile

Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery, development, manufacturing, and commercialization of novel cell therapies for oncology and other indications in the United States, China, and internationally. Its lead product candidate, LCAR- B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM).